Althea Group Holdings is the holding company of Althea Company Limited.

Althea Company was founded in Melbourne in 2017 with a view to acquiring the necessary licences and permits to import, cultivate, produce and supply medicinal cannabis for eligible patients across Australia. Through strategic supply and distribution partnerships, Althea Company has been able to commence sales of five Althea branded medicinal cannabis products in Australia.

Althea Group proposes to grow its current revenue through implementing targeted strategies aimed at increasing sales of imported medicinal cannabis products and expanding its current local operations through the construction of a 4,080m2 cannabis cultivation and production facility in Skye, Victoria. The goal is to produce approximately 3 tonnes of high grade dried medicinal cannabis flower each year at the facility. Subject to future local or international demand, a supportive business case and Althea Group obtaining the relevant licences and permits described in sections 3.8 and 4.3 to export cannabis products, Althea Group may assess at the appropriate time the potential to expand the size and scale of its proposed cannabis cultivation and production facility to capitalise on increased local demand and any future available export markets.

It is anticipated that AGH will list on the ASX during September 2018.

Great start for Althea Group Holdings after listing on Friday. Offer price was 20c per share and it is currently trading at 69c. You don't see stag profits like that much anymore on new floats. Well done to all who got on board in the IPO.

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